PM Modi urges Indian industry to engage with global supply chains

Prime Minister Narendra Modi on Tuesday asked the industry not to be a "mere spectator" and take advantage of the opportunities available in the global supply chain.

Stating that the world is looking to strengthen its economic partnership with India, Modi said India's manufacturing sector should take advantage of the growing needs of the world by producing high quality products.

"Today India provides stable policies and a better business environment. I urge you to take big steps to advance the country's manufacturing and exports," he said at a Post-Budget webinar on Regulatory, Investment and Ease of Doing Business Reforms.

Modi said industry should look for manufacturing innovative products using R&D which has demand overseas, and this will push exports.

"Today the world needs a trusted partner... Industry should not be a mere spectator, should seek opportunity in the global supply chain: Modi said, adding today India has become a growth engine for the global economy... The country has proved its resilience during hard times also.